Galliford Try (LON:GFRD) Reaches New 1-Year High - Here's Why

Key Points

• Galliford Try shares reached a new 52-week high, trading as high as GBX 710.48 and last at GBX 704, well above their 50-day and 200-day moving averages.
• Berenberg raised its price target from GBX 680 to GBX 750 and reiterated a “Buy” rating. MarketBeat reports a consensus “Buy” rating, though its average target price is GBX 650.
• The company reported quarterly EPS of GBX 41.70, a 32.45% return on equity and a 2.13% net margin; analysts expect full-year EPS of about 25.16 pence.

Shares of Galliford Try Holdings plc (LON:GFRD - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as GBX 710.48 and last traded at GBX 704, with a volume of 354878 shares. The stock had previously closed at GBX 708.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank lifted their price objective on shares of Galliford Try from GBX 680 to GBX 750 and gave the company a "buy" rating in a research report on Thursday, September 17th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of GBX 650.

Galliford Try Price Performance

The firm's fifty day simple moving average is GBX 609.68 and its 200 day simple moving average is GBX 553.80. The firm has a market cap of £689.74 million, a P/E ratio of 19.89, a P/E/G ratio of 0.90 and a beta of 0.47. The company has a debt-to-equity ratio of 35.36, a quick ratio of 0.89 and a current ratio of 0.94.

Galliford Try (LON:GFRD - Get Free Report) last issued its earnings results on Thursday, September 17th. The company reported GBX 41.70 earnings per share (EPS) for the quarter. Galliford Try had a return on equity of 32.45% and a net margin of 2.13%. As a group, analysts forecast that Galliford Try Holdings plc will post 25.1560178 earnings per share for the current year.

Galliford Try declared that its Board of Directors has approved a share repurchase plan on Thursday, September 17th that permits the company to buyback 0 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Galliford Try Company Profile

Galliford Try is one of the UK's leading construction groups, working to improve the UK's built environment, delivering positive, lasting change for the communities we work in on behalf of our clients. Our business operates mainly under the Galliford Try and Morrison Construction brands, focusing on areas where we have core and proven strengths, namely in Building, Highways and Environment. We see long-term growth and appropriate margins in these markets. Our company is founded on our values of excellence, passion, integrity and collaboration, and our vision is to be a people-orientated, progressive business, driven by our values to deliver lasting change for our stakeholders and the communities we work in.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.